Here are a collection of news stories, from last Friday alone:
Unemployment soars to 8.1% as talk of depression grows
Corporate borrowing costs surge on depression scare
Hanging on, or how to get through a depression and enjoy life
Downturn sinking into depression?
Preventing Great Depression II
Before it was declared that we had officially been in a recession since December 2007, nearly everyone in Washington and the media was tiptoeing around the “R” word. As soon as it was official, the pretense was dropped.
It seems like the same thing is happening now in Washington and the TV media, but this time the print media is not that hesitant about saying the “D” word.
The bottom line, though, is still this: no one anywhere knows what will really happen.